Yogi Parmar, managing director and Paul Reader, marketing director, discuss the last 12 months and how Toymaster continues to support its members.
Many toy retailers faced a tough 2022 but the UK’s indies held firm, once again demonstrating the adaptability, nimbleness and optimism that have seen the channel safely through some of the most challenging years businesses have faced in decades.
Paul Reader was of the opinion that the landscape coming into the new year wasn’t shaping up to be as scary as was initially feared by the group’s members, with predicted price increases being mitigated by suppliers choosing to balance out or even reduce their pricing thanks to more reasonable container rates.
According to Yogi Parmar, independent retailers continued to benefit from the support of consumers eager to spend their money at local, specialist businesses in 2022.
Paul feels that the lessons learned by Toymaster’s members in the past few years have stood them in very good stead to deal with the turbulent economic conditions that came to a head last year, while the group’s suppliers play a vital role in ensuring its members trade well.
“In many respects, we’ve moved away from the concept of ‘buying little and often’ to ‘buying better’ instead,” Yogi explained.
Last year, Toymaster added new graphic design specialists to its team, bringing more of its design efforts in-house and Toymaster also had a surge in recruitment in 2022 and hopes other independents will see the benefits of membership this year.
On looking ahead to this year, Yogi admits many of the same challenges remain – but scattered throughout 2023 lie opportunities too. Toymaster remains committed to supporting its members: helping them through the trickier times and joining them in seeking out the good ones. The group reiterates that its role is to work in partnership with retailers and suppliers, to add value and benefit to both.
To read the full article which featured in the January issue of Toy World click here.
Independent retailers keen to find out more about how becoming a Toymaster member could save them time and money can visit the team at Toy Fair, where the group will be hosting its customary Toymaster Member’s Lounge on the Upper Level of the Grand Hall.
For further information, contact Brian McLaughlin on 01604 662 922 or email@example.com.